Economic Experiment at UATX

Are we richer than royalty?

Price, income, GDP — these are are highly refined economic tools that are rather poor proxies for real value. In fact, my decades of experience as an economist have taught me that standard economic metrics are radically underestimating the true value of things that lead us (individually and socially) to underappreciate our prosperity.

And I think I found a way to prove my point. Watch this new YouTube video of an economic experiment I conducted with fifteen unsuspecting participants during a “parents weekend” talk I gave recently at the University of Austin.

If you have any problems getting the video to play, you can find it on my YouTube channel link very easily. Just go to www.youtube.com/@ProfessorTimKane.